TAXWATCH: How much Landing renovations could cost you

While we wait to learn more about how much proposed renovations to the Jacksonville Landing will cost the developer, we’re looking deeper in to how much it could cost you.

The Downtown Investment Authority would be involved in negotiations over the development plan and, ultimately, the decision on how much incentive money to give.

“We don’t just want a ‘homerun’ project, but we also want some solid singles and doubles, smaller projects that help the dynamic downtown and street activity of downtown,” says DIA Chairman Oliver Barakat.

He says the DIA fully backs the push to revamp the Landing, but will be very careful when figuring out the best way to allocate incentives.

He says their first step is to engage in a market study over the viability and need of hotel, residential, and retail space in that location. That will contribute to their input in order to finalize the renovation plans- a process he expects to take at least the next month.

After that, there will be a price tag put on the project. Landing developer Toney Sleiman tells WOKV he expects these upgrades to be a public-private partnership, meaning he will seek city money.

“The community will do whatever it takes, within reason, to produce a very viable and world class project,” Barakat says.

He says the Landing is, in many ways, the “front door” to downtown Jacksonville and making these improvements is important.